Learn about title insurance, and how it protects your property investment.
A title is the legal right a person has to the ownership and possession of land. It’s possible that someone, other than the seller, has a legal right to the property you’re buying. If that legal right is discovered after you purchase the property, a claim can be established against your ownership the property.
Title insurance provides you with needed security and peace-of-mind.
An owner’s title insurance policy protects owners from any covered title discrepancies arising prior-to or concurrent-with the purchase of a piece of property. It differs from a lender’s policy, in that a lender’s policy only covers the lender’s interest in the property. An owner’s policy covers you, the homeowner, and your interest (equity).
Title insurance is a one-time purchase, included in your final closing costs. Your coverage will continue for as long as you and your heirs own the property.
Undisclosed but recorded prior mortgage, judgment, or easement
Errors in tax records
Forged notary or witness
Erroneous or inadequate legal descriptions
Deeds affecting property of deceased person, not joining all heirs
Defects in recorded instruments (missing notary seal or legal description)
Forged deeds, mortgages, discharges or releases
Deeds executed under falsified or expired power of attorney
Deeds challenged as being given under duress, undue influence or fraud